Van ECK Associates Corp Has $5.35 Million Position in Sysco Corporation $SYY

Van ECK Associates Corp lessened its position in shares of Sysco Corporation (NYSE:SYY) by 48.0% in the second quarter, HoldingsChannel.com reports. The fund owned 64,024 shares of the company’s stock after selling 58,996 shares during the period. Van ECK Associates Corp’s holdings in Sysco were worth $5,351,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. First Citizens Bank & Trust Co. raised its position in Sysco by 1.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after purchasing an additional 145 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Sysco by 11.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after purchasing an additional 147 shares during the last quarter. Finally, EagleClaw Capital Managment LLC raised its holdings in shares of Sysco by 0.3% during the 4th quarter. EagleClaw Capital Managment LLC now owns 44,485 shares of the company’s stock worth $3,278,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SYY shares. Piper Sandler upped their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. UBS Group lifted their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citigroup boosted their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 506 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the sale, the executive vice president directly owned 36,313 shares of the company’s stock, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 14,508 shares of company stock worth $1,215,250. Insiders own 0.56% of the company’s stock.

Sysco Trading Down 0.3%

Shares of SYY stock opened at $81.86 on Thursday. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The stock’s fifty day simple moving average is $83.19 and its 200 day simple moving average is $80.40. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $39.22 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.80 and a beta of 0.63.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.